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Rumble Secures $775 Million from Tether, Including $250 Million in Cash for Growth

Dec 20, 2024, 10:02 PM

Rumble, a video-sharing platform and cloud services provider, has announced a $775 million strategic investment from Tether, the largest company in the digital asset industry with over 350 million users. The investment includes a primary commitment of $250 million in cash, which Rumble will use to support its growth initiatives. The remaining funds will finance a tender offer for up to 70 million shares of Rumble's Class A Common Stock at $7.50 per share, providing liquidity to shareholders. Following the transaction, Chris Pavlovski, Rumble's Chairman and CEO, will retain a controlling stake in the company. The deal is expected to close in the first quarter of 2025. Tether's investment underscores a shared commitment to innovation, free speech, and future growth, aiming to foster meaningful partnerships in advertising, cloud services, and crypto payment solutions.